Morgan Stanley lowered the firm’s price target on Academy Sports (ASO) to $55 from $60 and keeps an Equal Weight rating on the shares. Morgan Stanley is encouraged by Academy’s initiatives to improve merchandising execution and its expanding partnership with Nike (NKE), but limited visibility into ’25e comps and rising SG&A investments to support new store growth and eCommerce keep the firm on the sidelines, the analyst tells investors in a research note.
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